The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-02
FINANCE AND COMMERCE.
Money 8 Per Cent, New York Ex'
change Is Premium.
Gotten Quiet - Middffng Cstton'
SIC Sales To-day 90
0ales.

APPxLL 0YyIcE,
TesvsDAY EvlsIxs. September l. 1887. 8
Local loanable funds firm and in
good supply at 8 per cent. Spot cot
ton declined bc q. Memphis, went on
1.loe at New Orleans, and advanced
10 at Kew York. Futures advanced
z to 0 points a. New OrlesDf, and 5 to
. points at New York. O. P. Hunt &
Co., Of this city, issued the following
bull cotton circular yesterday: "The
outlook for the coming season Ia
scarcely so Aattering as IL was month
ago. Tie crop, which al that time
bid fair to be one Of the largest on
regard, has sincs then deteriorated
rapidly, and now promises, at least In
this section, to fall 20 to rs per cent.
short Of last season. Blight, rust and
shedding have done their work, and
the result lie apparent on all sides.
Reports from Texas are likewise dis
couraging. In many sections oil the
State serious drouth has prevailed,
and the damage is variously estimated
at from 25 to 80 per cent. Ia Georgia,
Central Alabama, Central Mississippi
aud the Carolinss, an average yield
will probably be realIx I'd. but ere the
Aght Of many days the 100000 esti-
mates, nov 80 fashionable, will dis.
appear and give way 10 smaller fig
Nres. Aside from the factor OF short
srops, however, We see no rea-
son 10 feel discouraged q, the pros
pect. Indsed, We have rarely seen q
combination Of circumstances which
pointed so clearly to an advance in cot
ton Go those which prevail ct the
present time. Trade Is good; silver
Sd per ounce higher than at this time
last year; stocks OF raw material and
manufactured goods are small; crop
prospects discoursging, prices low, and
the financial and political prospects
hirly hopeful. 1t Is true that Eng
land has lately proclaimed the league,
aud Pincs Ferdinand has assume
the Bulgarian throne against the
earnest and pronounced protest Of
Rupsia Thess facts. however. are but
specks In the political horison, and
liable 10 disappear Of any moment.
Anyhow. the Interests oil Europe are
10 varied and complex, that an aver
age Absence from complications Is, ct
any time. about the best that can be
hopsd for. The situation, at the mo-
ment, as II preeents itself 10 rs, is
simply THE: The growing crop cspnot,
under tbs most favorable circum.
stances, exceed 6,75o,O0O bales. We
will commence the season with shout
100000 bales American Visible and
invisible). less than last vera, This will
giveus supply equal to shout Q, $50, 0cC
for the last twelve months, and
how low stocks ran, even with 9
$500, 900 crop. is apparent to any who
mag chooee to look at existing sup.
plies. Spinners stocks are so depleted
that they must buy soop, and bay
largely; and port and interior stodkt
are 90 deplsted hat purchasers will be
almost entirely dependent on the
daily Arrivals. We look. therefore, 70
see receipts absorbed as they appear,
and expect prices to harden, as the
world realizes the silustion. As yet,
New York, Liverpool and, 10 an ex.
tent. New Orleans, are operating on
the basis Of 100000 crop. and We
cannot hops for any material improve.
ment until they realize the enormity
OF the mistake they are making
Wien once convinced, the rush "a
sover shorts viii start The ball In mo
ton. snd good trade and eager dsmsnd
will accomplish the rest."
A diepsich received from New Yorl
Of date September LIST says; To-day
coffee Jumped twenty points sboy,
the closing last night. The feeling Il
bullish, because reports from Bou,f
America have every indication Of {
shot crop this yosr aud next. Th,
drouih In BrS1ll has had a great efiec
on the September blossom, which Il
said 10 b. good indication as TO the
1857 crop. The beam say there Is NOR,
coffee In the market now than Their,
ever WAS q. one time with cheaper
prices.
INF: RTs.
slxty.tvo brls spples, 20 pkss bat
ter, 500 rolls begging, l2l pkgs bacon
500 pks boots aud snoes. 1900 bu corn
y pkgs chetee, 1856 sts cotton seed
l26 brls cement, 90 pkgs dry goods, 4.
pigs eggs, i98 brls d our, $40 bales hay
70 head cattle. ~ head horses anC
mules, 1872 pigs lard, 5000 feet lum
Der, 400 bils lime, 90 brls meal, so
bu oats, 10 brie onione, AZ brls poia
toes, cars pork sidee, 20 pkgs rise
100 brls euga', S2i pigs tobacco ant
1900 bu wheat.